Analyst Presentation

London

October 2015

Branding journey slide up to Bidvest Foodservice

Elevator statement

Vision/Mission

Service excel lence

• Ser ious about service, getting it r ight fir st time

• Developing long term, mutually profitable par tnerships with our customers

• Deliver ing the best customer exper ience in the foodservice industry

Great food

• Passionate about food quality and provenance

• Providing the best choice in the market

• Keeping our r anges innovative and exciting

Real value

• Using our expertise to deliver great value

• Keeping pr ices competitive, stable and fair

• Providing the r ight support, advice and insight, helping customers to grow

The best team

• Foster ing a culture that inspires our people

• Developing, recruiting and retaining the best team

• Working together to deliver our mission

Forward thinking

• Anticipating futur e trends and embr acing new technology to make customers’ l ives easier

• Investing in infrastructure to remain close to our customers

• Leading the industry’s sustainabil ity and social responsibil ity agenda

Depot location map

Net Sales

ROFE%

Customer Volume Mix %

Focus area 1

Sales Mix

Sales mix

• Sales mix between the different account types has been fairly static over the last 5 years

• The margin mix opportunity is huge, with an average of 10% extra cash margin on free trade versus DM

• There will be extra cost as well in servicing free trade, but the return is worth it

• We will be looking at all aspects of our service offering to see how we can better exploit the free trade opportunity

Focus Area 2

Simplification and cost

Cost Reduction and Simplification • We did a lot of restructuring last year

• 3 regions to 2

• Removal of regional roles

• Merger of several departments

• Introduction of General Management structure

• Pushing decision making and responsibility closer to the customer

• Continuing to remove non value-adding activities

• A learning process and an ongoing process

Focus area 3

Food

It’s all about the FOOOOOOD!! • We want to be seen as a food

loving, food innovating, food leading company….that also delivers.

• All of our focus in communication, sponsorship, PR etc is about being local and being ‘foody’

• When we can be local AND foody….that’s even better!

Acquisition Strategy

SLF

Cimandis

Acquisitions • Historically small acquisitions were integrated into

the network – not always successfully

• South Lincs Foodservice was the first one that was kept separate in every aspect (except some back of house synergies)

• 100% independent trade is a very different operation and cost structure

• We have done the same process with Cimandis

• We believe that there are several opportunities to buy non-conflicting businesses where we can add some value and grow our independent share

Summary

Elevator statement

Analyst Presentation

London

October 2015